U.S. regulators have yet again injected uncertainty into the crypto markets by assessing whether Ethereum is a security. What are the effects for crypto investors?to a GitHub commit, which stated: “This commit removes a section of the footer as we have received a voluntary enquiry from a state authority that included a requirement for confidentiality.”
If a government agency does request information, the company may remove the text, implicitly suggesting to visitors that it has received a subpoena. However, he admitted that some challenges would emerge, such as “new compliance requirements in certain jurisdictions.” But, decentralization does not guarantee safety from regulators. U.S. authorities have demonstrated their ability to close down platforms, such as crypto mixer Tornado Cash,Goforth noted that the SEC could target “some founder group, promoters or other active participants,” while Gorbunov said regulators could target individuals or organizations that support the open network, such as code validators or contributors.The implications of the SEC classifying Ethereum as a security appear grim.
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